Member Info for Mayo51

Hi Arsenal,

The step out drilling is funded, it’s the first I’ve heard about infill drilling, Claire mentioned at reducing it down to 100m centres.

Presumably, if the step out drilling substantially increases the resource, BCM realise that the $1m bonus payment becomes payable when it passes 1m oz as long as 50% are indicated, with a further $1m for exceeding 2m oz.

Wouldn’t it seem sensible, even though it’s not yet due, to use this as Oriole’s 50% contribution (BCM would have to contribute 50% too) for infill drilling which further increases the value/viability of Mbe.

They keep mentioning finalising the JV with BCM and with the mentions of a potential Ndom project level buy in and potential Mbe infill drilling, I think they’re already negotiating.

Now that BCM have half the Mbe interest, presumably they’ll be pressing, as well as Oriole, to move it forward into a measured/indicated MRE, an increase the value accordingly.

Certainly, the tortoise and the hare, slow but steady…..

Thanks OilNovice,

It all sounds very positive, the only negative was a potential slippage of the Exploitation Licence but Oriole can only be patient and answer/satisfy any queries as they arise.

Claire mentioned potential infill drilling at Mbe and project level partners at the other licences, all sounds good, hopefully we’re in a much stronger negotiating position, based on Mbe, and granting lower percentage buy-ins.

Anyway, all good, it’s opening up into a wider resource, I’m sure the Cameroon authorities are satisfied too, let’s see granting of the Licence sooner rather than later.

It’s eerily quiet, very strange after a presentation.

When I missed it, I intended reading the board first and listening to the presentation later.

Anyway, no doubt we’ll hear soon enough.

Did the Zoom presentation happen last night, I was late and tried to login but it said it had expired.

Be interesting if anyone has any feedback

Let’s hope we get access to the recording tomorrow, we appear to now get presentations every quarter.

Hopefully we’ll have game-changing news prior to the AGM.

As attached link

https://wp-orioleresources-2020.s3.eu-west-2.amazonaws.com/media/2026/04/Corporate-Presentation_27.04.2026_F.pdf

I signed up but didn’t catch it, will hopefully be able to listen to it a bit later.

We’ll be 4 weeks in, probably 50%, through the step out drilling early next week and although we probably may not yet see drill results we will get an idea of their confidence.

Be nice to see a conclusion to the Senala Managem JV contract, it’s been over a year now since the draft JV landed on Bob’s desk.

Https://x.com/orioleresources/status/2044333374546891044?s=46&t=0ao2_FDPfNLAly7g5o5G5A

Will the gamechanging news arrive before then, be nice if it does

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration and development company focused on Central and West Africa, is pleased to publish the maiden JORC Mineral Resource Estimate ('MRE') for the MB01-N deposit at its 50%[1] owned Mbe orogenic gold project ("Mbe" or the "Project") in Cameroon. Together with the MRE for the neighbouring MB01-S deposit, which was published in Q4-2025, the total JORC Inferred Resource at Mbe is now 1.23 million oz contained gold ("Au").

Highlights

· Independent consultant Forge International Limited ("Forge") has produced a pit constrained Inferred MRE for MB01-N of 10.5Mt at a grade of 1.05g/t for 360,000oz contained gold, using a US$3,200/oz gold price and a lower cut-off grade of 0.40g/t Au.

· The MRE extends over a strike length of approximately 723m, a width of up to 125m, a maximum vertical depth of 270m and remains open in all directions.

· Combined with the existing Inferred Resource at MB01-S (870,000oz), located 700m to the southwest of MB01-N, Mbe now has a total Inferred Resource of 1.23 million oz contained Au, with both deposits remaining open in all directions and with further potential satellite targets within the wider licence area.

· A ten hole 2,500m step out diamond drilling programme at MB01-S commenced earlier this month, with the aim of expanding the existing Inferred MRE at that deposit later this year.

· The Company believes there is excellent potential to increase significantly the size of the cumulative Resource across the Project.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "We are delighted to receive this maiden resource for the northern deposit on our Mbe licence in Cameroon. This together with the maiden MRE at MB01-S, brings our total resource to almost one and a quarter million ounces of gold at Mbe within the North and South area deposits, both of which are still open in all directions and at depth. For any gold exploration project reporting a more than 1 million oz contained gold deposit is a major achievement and Mbe continues to build upon its status as not only Cameroon's leading gold project, with highly encouraging potential to become a significant open pit gold mine but is also of a size that already bears favourable comparison with other major discoveries in Africa and the rest of the world.

Finals, to end December, due out around now, they were this time last year with a June AGM

Hopefully we’ll get it next week, Mbe-S was issued a month after the final drilling results.

Https://x.com/bbcworld/status/2040498537050370278?s=46&t=0ao2_FDPfNLAly7g5o5G5A

I can’t keep up, someone having lunch with Martin, another unleashing fire and fury at the AGM, the most beautiful drill results ever, everyone wants to do a deal with us, what will this week bring?

Smithfield’s not far away either, early opening there

Oh no, they’ll be met with fire and fury!

Precisely, the first one is always difficult, it’s learning the requirements, the process, their expectations, etc.

It unlocks and derisks everything, hopefully the Mbe ones follow shortly after.

I’m sure we’ve had results on 11 holes now (including 2 last week) with 4 remaining